NEWS: shops set for closure

DSG International is set to close 77 of its 177 shops over the next five years. This isn't just so DSG can have a round 100 stores, but is in fact an attempt to trim the company's costs by £50m.

John Browett, DSG's chief executive, said: "Customers have become increasingly promotion and deal driven, impacting gross margins." Damn you deal-finding consumers!

The announcement came as DSG reported a 1% rise in like-for-like sales for the year up to 3 May. Despite this, the company's shares took an 11% tumble at the news of the planned shop closures.

Earlier this year the company issued two profit warnings, blaming the credit crunch for a challenging trading environment.

On the plus side, existing, Currys and PC World stores will be getting a new lick of paint in the transformation process.

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Joe Cox
Content Director

Joe is the Content Director for What Hi-Fi? and Future’s Product Testing, having previously been the Global Editor-in-Chief of What Hi-Fi?. He has worked on What Hi-Fi? across the print magazine and website for almost 20 years, writing news, reviews and features on everything from turntables to TVs, headphones to hi-fi separates. He has covered product launch events across the world, from Apple to Technics, Sony and Samsung; reported from CES, the Bristol Show, and Munich High End for many years; and written for sites such as the BBC, Stuff, and the Guardian. In his spare time, he enjoys expanding his vinyl collection and cycling (not at the same time).